Today’s trending stories in Australian home ownership and Home Loans.
- Haynes-led Royal Commission could mean the end of brokers' commissions
The Royal Commission, which is examining misconduct in the banking sector, may end up being the catalyst that moves the mortgage industry away from commission-based payments to fixed fees, according to a new report from the Australian Financial Review. On Monday, the commission, led by the…
- House prices hurt Aussie battler: report
Although more people are doing it tough across the country, many are keeping their troubles to themselves and “soldiering on” rather than seeking support, Salvation Army spokesman Major Bruce Harmer said. “It’s not just people who are homeless or destitute, its the Aussie battler who has a mortgage,…
- We're too big to fail, claims minnow Bendigo and Adelaide
The commission recommended unused lenders’ mortgage insurance be refunded to customers. Mr Harris said he was struck by the number of borrowers sold LMI. About one in four loans is sold with LMI. LMI, sold to borrowers without a deposit of at least 20 per cent, protects a bank from suffering a…
- 360 Capital push to float first mortgage trust
The company is working with its separately listed 360 Capital Total Return Fund on loans, and it has proposed floating the 360 Capital Mortgage REIT, as well as winning interest from private equity firms and family offices. We’ve got high net worth and private equity guys who want to invest into Australia…
- Investor housing loans sputter
Westpac bucks the trend in investor lending among major banks with a $473m increase
- For sale: Half-built Toorak apartments hit the market after building dispute
Its not often that a waiver must be signed before an open for inspectionin Toorak.
But that is the case at 27 Linlithgow Road, a construction site that has recently screeched to a halt. Inside the gutted 1930s tudor-style building, visitors must navigate around exposed cables, timber framing and uncovered holes in the floor.
There is a silver lining;&nbs…
- Judge orders man repay stepmother, 89, for loan he used to buy a house
A judge has ordered a man to repay $160,000 he borrowed from his stepmother to buy a house.
Emma Polacsek, 89, was unable to give evidence due to dementia, so her financial guardians sued on her behalf to recoup the debt.
The County Court last month ruled the sum lent to the man 13 years ago had not been forgiven, as he claimed it had.
He was found to have lied about the loan being discharged.
Mrs Polacsek worked as a laboratory supervisor at Commonwealth Serum Lab…
- Why more people are seeing Swansea, Tasmania as the seachange sweet spot
Forget what you thought you knew about the weather in Tasmania. According to Swansea resident of 14 years Noel Stanley, the southern states east coast is a hidden gem….
- Kenmore house earning $75,000 income per year hits the market
Builder Daryl OBrien wasnt setting out to game the rental market when he renovated 84 Marshall Lane, Kenmore.
His goal was to create a living space renters would be happy to live in and he said the relatively high rental returns were a happy accident.
Investment decision-making wasnt that big of a factor, people have got to live there, Mr O&rsqu…
- Banks’ efforts to trim housing investment loans bear fruit
The market has not moved much in January, but figures from APRA show the shift away from investment loans